Client Name: 
Alex

Client Occupation:
Head of Portfolio Trading

Client Location:
Cayman Islands

The Brief: 
Our client has an existing portfolio in Australia and engaged Milk Chocolate to help grow this further. Our client understands the importance of growing this portfolio whilst he is residing overseas, so this purchase was one of two immediate purchases. His key for this purchase was that it needed to be an investor grade investment property in a blue-chip location.

Purchase Reason:
Investment Property

Property Address: 
8km North of the Brisbane CBD

Purchase Price:
$740,000

Purchase Method:
Private Treaty

About The Property: 
3 Bed / 1 Bath / 3 car - 400m2

• Character Queenslander in a blue chip suburb just north of the Brisbane CBD
• Set high on the street, from the front yard, it has gun barrel views of the CBD
• Future potential to raise and extend to take advantage of uninterrupted city views from all living spaces
• Recently updated
• Period features such as character cornices, skirting boards and architraves
• Original hardwood polished floorboards
• 2-minute walk to local cafes and shops
• 350m to closest bus stop into the city
• 30-minute walk to closest train station (5-minutes by car)
• 5-minute drive to the Westfield

Our Services:

• Detailed brief and confirmed requirements with a reverse brief to the client
• Commenced search and viewed properties on behalf of our client
• Presented recommended properties with the key information and cash flows
• Presented town planning advice and renovation costs per property
• Negotiate purchase price
• Liaised with the client's solicitor and mortgage broker on the transaction
• Undertook extensive building inspections
• Undertook extensive town planning, survey and drafting requirements to provide assurance of the city views if the property is raise and renovated
• Recommended property managing agent
• Project management of minor repairs

Did we renovate:
During our due-diligence, we uncovered some minor drainage and stump issues. We negotiated the cost of the works off the purchase price and are managing the repairs on behalf of our client. There is also future potential to extend and renovate, however, this is not apart of our clients requirements just now.

Rent:

$590/wk

Gross Rental Yield:

4.14%